RBS (NYSE:RBS) makes further progress in its aim of withdrawing from riskier property loans, forging a deal to sell a 1.36 billion pounds ($2.1B) portfolio, Reuters reports. The loans will be put into a fund in which RBS will hold 75% and the remainder held by Blackstone. Blackstone will manage the fund and RBS will sell down its stake by 2013.

Jeffries’s (NYSE:JEF) shrank its balance sheet by 25%. JEF fourth fiscal quarter will see an EPS of $0.17 beats by $0.03. Revenue will hit the $554 million mark, but will miss year-over-year by $8 million. The firm reports tangible common book value of $14.40/share and declares a quarterly dividend of $0.075. “Competitive and legislative forces continue to evolve in ways that favor our client-focused model.”

AllianceBernstein (NYSE:AB) gets a boost after announcing some organizational changes as part of its effort to streamline management and improve performance. Assuming the role of Chief Operating Officer will be James Gingrich, the leader of its sell-side research subsidiary, while Robert M. Keith, co-manager of institutional and retail distribution, will become head of client service, sales and marketing.

Prudential (NYSE:PUK) Chairman Harvey McGrath will step down in 2012 once a successor has been found. McGrath’s departure may have been inevitable after he received blame for much of the U.K. insurer’s botched attempt to buy Asian rival AIA from AIG for $35.5 billion.